New Dublin homes out of reach for couples

Affordability has become a “big problem”, according to Mel Reynolds, a Dublin-based architectARTUR WIDAK/NURPHOTO VIA GETTY

New homes in Dublin sold last year for prices that were 40 per cent higher than the amount that a couple on an average income could borrow, figures show.

Over the course of 2017 only 2,863 new homes were sold in the capital, according to the latest stamp duty filings from the Central Statistics Office (CSO). The average cost of a new home in Dublin was about €415,000.

Dún Laoghaire-Rathdown was the most expensive area for recently built properties with a median price of €596,567. In the Fingal county council area, where 1,085 new homes were sold, the median price was €340,001. In the Dublin city area the median cost was €374,550 across the 557 new properties that were sold and in south Dublin it…

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